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  1. CFS settles super fees class action for $100m

    and any commission approved by the Court to be paid to the funder of the class action,” it said. Slater and Gordon said lead applicant Marcel Krieger welcomed the outcome after joining FirstChoice Personal Super in 2010 during a branch visit to the...

  2. Tech consultancy expands with UK appointment

    of strong demand from the accounting tech sector, the firm said. “With this global expansion into the UK, Vickery is set to lead the growth and ensure great results for our clients in the region,” it said. Mr Vickery will be joined by a supporting team...

  3. Grant Thornton appoints 3 industry leaders

    challenge when necessary to deliver progress in each business, said the firm. Grant Thornton has appointed three industry leaders to advance its commitment to delivering insights and value to clients. Partners Anika Reside, Cameron Bacon and Tom...

  4. ‘Over a third’ of accountancy tasks could be automated by AI

    report found the key driver of value for generative AI in the sector is its ability to automate routine tasks, which lead to more time invested in higher-value thinking. Along with the automation of 36 per cent of accountants’ tasks, the research said...

  5. Almost $700k recovered for over 1,000 underpaid workers

    The FWO said it continues to investigate two businesses and non-compliant firms were informed that any future breaches may lead to higher-level enforcement. Acting Fair Work Ombudsman Kristen Hannah said the findings from the action taken across...

  6. Associations call for extension of energy incentive

    smart and efficient energy upgrades for small businesses.” “We also note that poorly selected or implemented upgrades could lead to unwanted consequences. For example, where electrification from gas takes place, there is a clear need for electric...

  7. Businesses must plan for rising default rates, insolvency risk

    on supporting their clients,” Mr Blundell said. “Many directors have become used to the lifestyle that they’ve been able to lead over that period and it’s not uncommon to see substantial related party loan accounts listed on balance sheets that come...

  8. How to supercharge a practice with a trio of AI benefits

    of the next decade, making investment a critical consideration for 2023. Damien Greathead is accountant and adviser group lead at Intuit QuickBooks Australia.

  9. Bullying, racism, sexual harassment and overwork ‘endemic’ at EY

    sexual harassment, and just one in 20 reporting racism. The review makes 27 recommendations including that “EY Oceania lead the development of an industry-wide code of practice for the Big Four” that “sets a shared aspiration of healthy and safe...

  10. ATO to triple credit referrals in ‘stronger actions’ on debt

    to more than six every business day. “In FY2023-24 we expect to issue over 50,000 intent-to-disclose notices that may lead to over 2,500 businesses being subsequently disclosed.” The projected figure of 2,500 amounts to almost 10 every business day and...

  11. 10-point checklist for when that crisis call comes

    often frustrate the investigative work of the company, fomenting a hostile and uncooperative environment. Accountants can lead a more thoughtful and effective strategy, encouraging restraint and allowing for cooperative investigative interviews. Employ...

  12. ATO urged to postpone tax determination on NALI and CGT

    Treasury.” The industry associations also warned that the proposed calculation method outlined in the tax determination may lead to unfair tax outcomes for super funds. “We recognise that the results of the calculations in the draft TD arise because of...

  13. EY acquires design and product development firm

    and digital solutions consulting firm Future Friendly Team Pty Ltd. Future Friendly will join the EY Australia team to lead a new business transformation offering, with Future Friendly co-founders Nick Gower and Jon Christensen joining the EY Australia...

  14. AFSA sharpens teeth as personal insolvency numbers rise

    for about one year and is only available once. Any future bankruptcies will be administered as normal.” “Taking the NAP’s lead could allow debtors and creditors to swiftly return to their focus of more productive economic outcomes.” Simplification for...

  15. NSW, Victoria prescribe GP payroll tax without amnesty sweetener

    across the states which increases the risk. “Whatever the next steps are for practices, we are concerned this may ultimately lead to an increased cost of healthcare in Australia as practices deal with the impact of increased payroll tax.”

  16. First-ever Women in Finance Summit launches

    Momentum Media is proud to launch its inaugural Women in Finance Summit, aimed at supporting and connecting leading women in the financial services space. Run with the support of principal partner Mortgage Choice (part of REA Group), the Women in...

  17. Conflicts of interest, workloads put accountants in ethics spotlight

    They said common missteps included failure to identify an ethical issue or realise that a particular action might lead to a breach of the accounting ethical code, known as APES 110. “Issues around conflicts of interest is a big one, how to deal with...

  18. Crypto Tax: 5 Crucial Areas to Educate Your Clients On

    believe that unless they convert cryptocurrency back into fiat currency, it's not a taxable event. This misconception can lead to unexpected tax obligations. Guidance: Make it clear to your clients that trading one cryptocurrency for another (e.g.,...

    • Type: Article
    • Author: Crypto Tax Calculator
    • Category: Tax

  19. Grant Thornton bolsters tax group with 2 partners

    GST technical and legal knowledge coupled with his compliance and governance skills mean he is now a recognised GST thought leader in Australia,” she said. “Troy is a valuable addition to our data transformation and analytics team with a focus on client...

  20. Late payments drive business adoption of e-invoicing

    found, with 50 per cent of businesses saying they were a “serious threat” to survival. The survey, of over 1,000 business leaders, showed businesses were also accelerating their take-up of e-invoicing and other digital products to improve...

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